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MFDA Hearing Panel accepts Settlement Agreement with Victor Lee

TORONTO, Feb. 1 /CNW/ - A Settlement Hearing in the matter of Victor Raymond Fook Seng Lee (the
"Respondent"), the former President, Chief Executive Officer and Chief
Compliance Officer of Laurier Capital Planning Inc., was held today in
Calgary, Alberta before a Hearing Panel of the MFDA's Prairie Regional
Council.

The Hearing Panel accepted the Settlement Agreement between MFDA Staff
and the Respondent, as a consequence of which:

The Respondent was prohibited for three (3) years from acting (a) as a
Partner, Director or Officer of an MFDA Member; and (b) in the capacity
of Ultimate Designated Person, Chief Compliance Officer, Compliance
Officer or Branch Manager, while in the employ of, or associated with,
an MFDA Member;

If the Respondent seeks to become registered as a Partner, Director or
Officer of an MFDA Member, then the Respondent shall successfully
complete the IFSE (IFIC) Officers, Partners & Directors course (or
other course acceptable to the MFDA) prior to becoming so registered;

If the Respondent seeks to become registered in the capacity of Ultimate
Designated Person, Chief Compliance Officer, Compliance Officer or
Branch Manager, while in the employ of, or associated with, an MFDA
Member, then the Respondent shall successfully complete the IFSE (IFIC)
Branch Managers' Examination Course or the IFSE (IFIC) Mutual Fund
Dealer Compliance (or other course acceptable to the MFDA) prior to
becoming so registered;

If the Respondent seeks to become registered as an Approved Person in
the employ of, or associated with, an MFDA Member, then the Respondent
shall successfully complete the IFSE (IFIC) Canadian Investment Funds
course prior to becoming so registered;

The Respondent has paid a fine in the amount of $5,000; and

The Respondent has paid costs in the amount of $2,500.

In the Settlement Agreement, the Respondent admitted that from January
24, 2008 to May 15, 2008, in his capacity as President, Chief Executive
Officer and Chief Compliance Officer of Laurier Capital Planning Inc.,
he engaged in business conduct or practice that was unbecoming or
detrimental to the public interest by failing to ensure that Laurier
maintained a compliance program that identified and addressed material
risks of non-compliance and that appropriate supervision and compliance
procedures to manage those risks had been implemented, contrary to MFDA
Rules 2.1.1(c) and 2.5.1 and MFDA Policy 2.

The Hearing Panel advised that it will issue written reasons for its
decision in due course. A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca.

The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 136 Members and their approximately 75,000 Approved
Persons with a mandate to protect investors and the public interest.